Houston Hotel for Sale: Prime Investment Opportunity in Downtown
Rahul Bijlani
HOUSTON – A Houston-area hotel has been designated a distressed asset and is being marketed for sale by CBRE Hotels, according to Rahul Bijlani, senior vice president of CBRE Hotels.
Speaking at a recent CBRE press luncheon, Bijlani confirmed the property is affiliated with the Marriott brand, but he did not disclose the hotel’s exact identity.
Following a 7.4 percent decline in RevPAR in 2018, CBRE reports that the Houston hotel market is showing signs of recovery. The firm projects a modest 0.3 percent increase in RevPAR for 2019 and anticipates a stronger 3 percent gain in 2020.
Occupancy in the Houston market spiked in 2017 after Hurricane Harvey, when widespread residential damage displaced many residents for months or longer while repairs were underway. That temporary rise in demand influenced performance and development dynamics across the market.
Hotel construction activity in the Houston region has been robust over the past year, and additional projects are currently planned, reflecting growing investor and developer interest as conditions stabilize.
